Providing counsel to Colorado seniors and their families in elder law, estate planning & disability law for over 20 years.

Fiduciary duties may be more difficult than you realize

On behalf of Vincent, Romeo & Rodriguez, LLC posted in Guardianships on Sunday, April 10, 2016.

When designating a guardian for your loved ones, it may be difficult to think that anyone can take as good care of them as you do, and this may make it an extremely difficult decision to handle. There are a large number of considerations you should take into account before assigning anyone as the guardian to your loved one. One of the most important aspects to examine when considering candidates for this responsibility is their ability and willingness to follow through with their fiduciary duties as a guardian.

The legal guardian of another person may be referred to as a fiduciary. As such, they have fiduciary duties they must perform. Since a fiduciary duty is a legal responsibility to act in the best interest of another individual, many people may find it difficult to do, especially when they don't necessarily agree with their charge's wishes or lifestyle.

When considering a guardianship for your loved ones, it may be best to take into account all the aspects of the candidate's beliefs and lifestyle. Most guardians are designated for minor children and individuals that have become incapacitated. In both cases, becoming the primary decision-maker can be an extremely trying experience. If, for example, someone that has never had children is made guardian of a minor child, the decisions regarding the upbringing and best interest of that child may go against the parent's beliefs and make the guardian's duty more difficult to successfully fulfill. Likewise, being the guardian of an individual who is incapacitated or disabled carries with it a certain level of stress that not everyone can handle.

Assigning guardianship is a remarkably important decision. To make the best decision possible, individuals considering guardianship should examine all aspects relative to the situation. The process of assigning a guardian may be made easier with the help of an attorney. With their experience, an attorney may be able to offer individuals valuable advice about how to choose the right guardian for their loved one.

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